HELP! Just closed first "subject to" - Posted by Steve

Real Estate Investing
1

Posted by TC on March 28, 2002 at 21:41:32:

Are you planing on holding,rehabbing,flipping or reselling?I have done two and once I get control I immediatley start marketing.By the time I have it sold it usually does not have time to flag the lender.

2

HELP! Just closed first “subject to” - Posted by Steve

Posted by Steve on March 28, 2002 at 21:18:48:

Help, anyone that has done a “subject to” deal. I just closed today. Filled out all the paper work… but now I’m getting nervous about sending info to the lender. I’ve got to send $2800 to them tomorrow to get payments current. Has anyone had there deal gone bad?? What I mean is, has the lender called anyones note due??? That is my main concern. Please, any advise is helpful. THX!

3

Re: HELP! Just closed first “subject to” - Posted by Todd Tripp

Posted by Todd Tripp on March 29, 2002 at 12:11:12:

I would suggest that you wait until you take possesion of the property before you make the payment. If the seller decides to back out you may have to evict or forclose and can get real ugly.

4

Re: HELP! Just closed first “subject to” - Posted by Steve Nettles

Posted by Steve Nettles on March 29, 2002 at 10:27:41:

Are Subject to’s hard to do ? I have a prime candidate for this technique. What are the in’s and out’s ?

5

Wouldn’t worry about it - Posted by Nathan(oh)

Posted by Nathan(oh) on March 29, 2002 at 09:32:40:

I can tell you that the bank willl be happy enough to get some money and chances are you will have nothing to worry about. I have done about 5-6 sub2’s and work with the lender on all of them with no problems or questions.

nathan